Many Drivers Missing Car Insurance Discounts, Especially Young Drivers

    Many Drivers Missing Car Insurance Discounts, Especially Young Drivers

PR Newswire

SAN FRANCISCO, July 24, 2013

SAN FRANCISCO, July 24, 2013 /PRNewswire/ --Almost two in five drivers are
either not receiving any car insurance discounts (30%) or do not know if they
are receiving any discounts (9%), according to a new InsuranceQuotes.com
report.

A common discount that most people are not aware of is a discount for
receiving statements by email; only 33% of Americans with car insurance know
about this discount. Less than half (48%) know that their credit score can
affect how much they pay for car insurance. Car insurance also costs less for
married drivers; only 57% know that.

Young drivers are the least likely to receive discounts, which is unfortunate,
since they already tend to pay the highest rates due to their inexperience and
perceived risk. Only 34% of 18-29 year-old drivers say they are receiving at
least one car insurance discount.

"There are dozens of possible discounts and many are easy to qualify for,"
according to Laura Adams, senior insurance analyst, InsuranceQuotes.com.
"Start by calling your insurance company, because you won't automatically
receive all the discounts you're entitled to." That's news to 39% of Americans
who have car insurance, according to the InsuranceQuotes.com report.

Some possible discounts that drivers may be missing are:

  oBundling car insurance with another type of insurance such as homeowner's
    or renter's insurance
  oPassing a defensive driving course
  oDriving a car with certain safety features (such as passive restraint
    systems, anti-lock brakes and daytime running lamps)
  oBelonging to a certain group (i.e., the military, a union, a
    fraternity/sorority, etc.)
  oCollege or high school students who maintain at least a B average
  oCollege students who attend a school more than 100 miles from home and do
    not bring a car

The survey was conducted by Princeton Survey Research Associates International
(PSRAI) and can be seen in its entirety here:

http://www.insurancequotes.com/auto/car-insurance-discount

PSRAI obtained telephone interviews with a nationally representative sample of
1,005 adults living in the continental United States. Telephone interviews
were conducted by landline (501) and cell phone (504, including 244 without a
landline phone). Interviews were done in English by Princeton Data Source from
June 20-23, 2013. Statistical results are weighted to correct known
demographic discrepancies. The margin of sampling error for the complete set
of weighted data is plus or minus 3.6 percentage points.

About InsuranceQuotes.com:

InsuranceQuotes.com provides consumers with a free, easy way to shop for and
compare insurance quotes online, and delivers information about auto, home,
health and life insurance and other types of insurance.

For more information, visit http://www.InsuranceQuotes.com.

InsuranceQuotes.com is part of Bankrate Insurance. Other Bankrate Insurance
companies include NetQuote.com and InsureMe.com.

For More Information:

Kayleen Yates
Senior Director, Corporate Communications
Bankrate, Inc.
kyates@bankrate.com
917-368-8677

SOURCE InsuranceQuotes.com

Website: http://www.bankrate.com
 
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